Appian Co. (NASDAQ:APPN) Major Shareholder Abdiel Capital Advisors, Lp Sells 100,665 Shares

Appian Co. (NASDAQ:APPN) major shareholder Abdiel Capital Advisors, Lp sold 100,665 shares of the company’s stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $32.67, for a total transaction of $3,288,725.55. Following the transaction, the insider now owns 9,514,401 shares in the company, valued at approximately $310,835,480.67. This trade represents a 1.05% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Major shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

Abdiel Capital Advisors, Lp also recently made the following trade(s):

• On Friday, May 16th, Abdiel Capital Advisors, Lp sold 164,000 shares of Appian stock. The stock was sold at an average price of $32.66, for a total transaction of $5,356,240.00.
• On Thursday, May 8th, Abdiel Capital Advisors, Lp sold 140,050 shares of Appian stock. The shares were sold at an average price of $31.96, for a total transaction of $4,475,998.00.
• On Wednesday, April 16th, Abdiel Capital Advisors, Lp sold 5,103 shares of Appian stock. The stock was sold at an average price of $27.02, for a total value of $137,883.06.
• On Monday, April 14th, Abdiel Capital Advisors, Lp sold 33,000 shares of Appian stock. The shares were sold at an average price of $27.11, for a total value of $894,630.00.
• On Friday, April 11th, Abdiel Capital Advisors, Lp sold 29,971 shares of Appian stock. The shares were sold at an average price of $27.04, for a total value of $810,415.84.
• On Wednesday, April 9th, Abdiel Capital Advisors, Lp sold 34,943 shares of Appian stock. The stock was sold at an average price of $28.08, for a total value of $981,199.44.
• On Friday, April 4th, Abdiel Capital Advisors, Lp sold 78,528 shares of Appian stock. The shares were sold at an average price of $26.49, for a total transaction of $2,080,206.72.
• On Wednesday, April 2nd, Abdiel Capital Advisors, Lp sold 57,975 shares of Appian stock. The stock was sold at an average price of $29.52, for a total transaction of $1,711,422.00.

Appian Stock Down 0.9%

Shares of APPN stock opened at $32.24 on Tuesday. Appian Co. has a 12-month low of $24.00 and a 12-month high of $43.33. The firm has a fifty day moving average of $29.59 and a 200-day moving average of $33.27. The firm has a market capitalization of $2.39 billion, a price-to-earnings ratio of -25.59 and a beta of 1.83.

Appian (NASDAQ:APPN) last posted its earnings results on Thursday, May 8th. The company reported $0.13 earnings per share for the quarter, topping the consensus estimate of $0.03 by $0.10. Appian had a negative return on equity of 532.05% and a negative net margin of 14.95%. The firm had revenue of $166.43 million for the quarter, compared to analyst estimates of $163.27 million. During the same period in the previous year, the company posted ($0.24) earnings per share. The company’s revenue for the quarter was up 11.1% on a year-over-year basis. Research analysts expect that Appian Co. will post -0.28 earnings per share for the current year.

Hedge Funds Weigh In On Appian

Several institutional investors have recently modified their holdings of APPN. Barclays PLC increased its stake in Appian by 285.9% during the 3rd quarter. Barclays PLC now owns 71,771 shares of the company’s stock worth $2,451,000 after purchasing an additional 53,172 shares in the last quarter. Chicago Partners Investment Group LLC boosted its holdings in shares of Appian by 18.3% in the fourth quarter. Chicago Partners Investment Group LLC now owns 31,127 shares of the company’s stock valued at $1,081,000 after buying an additional 4,813 shares during the period. Entropy Technologies LP acquired a new position in shares of Appian in the fourth quarter valued at approximately $208,000. Handelsbanken Fonder AB increased its position in shares of Appian by 14.7% during the fourth quarter. Handelsbanken Fonder AB now owns 8,600 shares of the company’s stock worth $284,000 after acquiring an additional 1,100 shares in the last quarter. Finally, Oppenheimer & Co. Inc. raised its holdings in shares of Appian by 5.1% during the fourth quarter. Oppenheimer & Co. Inc. now owns 8,200 shares of the company’s stock worth $270,000 after acquiring an additional 400 shares during the period. Institutional investors own 52.70% of the company’s stock.

Analyst Upgrades and Downgrades

APPN has been the topic of several analyst reports. Scotiabank cut their price objective on shares of Appian from $37.00 to $34.00 and set a “sector perform” rating on the stock in a report on Thursday, April 24th. DA Davidson increased their price target on Appian from $28.00 to $35.00 and gave the company a “neutral” rating in a research note on Friday, May 9th. Barclays raised their price target on Appian from $28.00 to $33.00 and gave the stock an “underweight” rating in a research report on Friday, May 9th. Citigroup lifted their price objective on Appian from $40.00 to $41.00 and gave the stock a “buy” rating in a research note on Tuesday, May 13th. Finally, Morgan Stanley increased their target price on Appian from $27.00 to $29.00 and gave the company an “equal weight” rating in a research note on Friday, May 9th. One analyst has rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $36.29.

Appian Company Profile

Appian Corporation, a software company that provides low-code design platform in the United States, Mexico, Portugal, and internationally. The company's platform offers artificial intelligence, process automation, data fabric, and process mining. It provides The Appian Platform, an integrated automation platform that enables organizations to design, automate, and optimize mission-critical business processes.